I-3 - Taxation Act

Section 1029.8.36.23.2 Disposition versions

2009-06-04

1029.8.36.23.2. If, in a fiscal period, in this section referred to as the “fiscal period of repayment”, a qualified corporation that is a member of a qualified partnership at the end of the fiscal period of repayment pays, pursuant to a legal obligation, an amount that may reasonably be considered to be a repayment of government assistance or non-government assistance that the qualified corporation received and that reduced, in accordance with subparagraph ii of subparagraph b of the first paragraph of section 1029.8.36.18.1, the qualified corporation’s share of the amount of wages incurred by the qualified partnership in a particular fiscal period, in respect of a qualified designer or qualified patternmaker, for the purpose of computing the amount that the qualified corporation is deemed to have paid to the Minister under section 1029.8.36.7.1, for its taxation year in which the particular fiscal period ends, the qualified corporation is deemed, if it encloses the prescribed form containing the prescribed information with the fiscal return it is required to file under section 1000, for its taxation year in which the fiscal period of repayment ends, to have paid to the Minister on the qualified corporation’s balance-due day for that year, on account of its tax payable for that year under this Part, an amount equal to the amount by which the particular amount that the qualified corporation would be deemed, if the assumptions set out in the second paragraph were taken into account, to have paid to the Minister, in respect of the share, under section 1029.8.36.7.1 for its taxation year in which the particular fiscal period ends, exceeds the aggregate of

(a)  the amount that the qualified corporation would be deemed to have paid to the Minister under section 1029.8.36.7.1, for its taxation year in which the particular fiscal period ends, in respect of the share, if the agreed proportion in respect of the qualified corporation for the particular fiscal period were the same as that for the fiscal period of repayment; and

(b)  any amount that the qualified corporation would be deemed to have paid to the Minister under this section for a taxation year preceding the taxation year in which the fiscal period of repayment ends, in respect of an amount paid by the qualified corporation, if the agreed proportion in respect of the qualified corporation for the particular fiscal period were the same as that for the fiscal period of repayment.

The particular amount to which the first paragraph refers is to be computed as if

(a)  any amount of assistance repaid at or before the end of the fiscal period of repayment reduced, for the particular fiscal period, the amount of any government assistance or non-government assistance referred to in subparagraph ii of subparagraph b of the first paragraph of section 1029.8.36.18.1; and

(b)  the agreed proportion in respect of the qualified corporation for the particular fiscal period were the same as that for the fiscal period of repayment.

2006, c. 13, s. 146; 2006, c. 36, s. 149; 2009, c. 15, s. 267.

2006-12-06

1029.8.36.23.2. If, in a fiscal period, in this section referred to as the “fiscal period of repayment”, a qualified corporation that is a member of a qualified partnership at the end of the fiscal period of repayment pays, pursuant to a legal obligation, an amount that may reasonably be considered to be a repayment of government assistance or non-government assistance that the qualified corporation received and that reduced, in accordance with subparagraph ii of subparagraph b of the first paragraph of section 1029.8.36.18.1, the qualified corporation’s share of the amount of wages incurred by the qualified partnership in a particular fiscal period, in respect of a qualified designer or qualified patternmaker, for the purpose of computing the amount that the qualified corporation is deemed to have paid to the Minister under section 1029.8.36.7.1, for its taxation year in which the particular fiscal period ends, the qualified corporation is deemed, if it encloses the prescribed form containing the prescribed information with the fiscal return it is required to file under section 1000, for its taxation year in which the fiscal period of repayment ends, to have paid to the Minister on the qualified corporation’s balance-due day for that year, on account of its tax payable for that year under this Part, an amount equal to the amount by which the particular amount that the qualified corporation would be deemed, if the assumptions set out in the second paragraph were taken into account, to have paid to the Minister, in respect of the share, under section 1029.8.36.7.1 for its taxation year in which the particular fiscal period ends, exceeds the aggregate of

(a)  the amount that the qualified corporation would be deemed to have paid to the Minister under section 1029.8.36.7.1, for its taxation year in which the particular fiscal period ends, in respect of the share, if the qualified corporation’s share of the income or loss of the qualified partnership for the particular fiscal period and the qualified partnership’s income or loss for that fiscal period were the same as those for the fiscal period of repayment; and

(b)  any amount that the qualified corporation would be deemed to have paid to the Minister under this section for a taxation year preceding the taxation year in which the fiscal period of repayment ends, in respect of an amount paid by the qualified corporation, if the qualified corporation’s share of the income or loss of the qualified partnership for the particular fiscal period and the qualified partnership’s income or loss for that fiscal period were the same as those for the fiscal period of repayment.

The particular amount to which the first paragraph refers is to be computed as if

(a)  any amount of assistance repaid at or before the end of the fiscal period of repayment reduced, for the particular fiscal period, the amount of any government assistance or non-government assistance referred to in subparagraph ii of subparagraph b of the first paragraph of section 1029.8.36.18.1; and

(b)  the qualified corporation’s share of the income or loss of the qualified partnership for the particular fiscal period and the qualified partnership’s income or loss for that fiscal period were the same as those for the fiscal period of repayment.

2006, c. 13, s. 146; 2006, c. 36, s. 149.

2006-06-13

1029.8.36.23.2. If, in a fiscal period, in this section referred to as the “fiscal period of repayment”, a qualified corporation that is a member of a qualified partnership at the end of the fiscal period of repayment pays, pursuant to a legal obligation, an amount that may reasonably be considered to be a repayment of government assistance or non-government assistance that the qualified corporation has received, or the qualified corporation or a person with whom it is not dealing at arm’s length pays, pursuant to a legal obligation, an amount that may reasonably be considered to be a repayment of a benefit or advantage that the qualified corporation or the person has obtained, and the government assistance, non-government assistance, benefit or advantage, as the case may be, reduced, in accordance with subparagraph ii of subparagraph b of the first paragraph of section 1029.8.36.18.1 or 1029.8.36.18.3, the qualified corporation’s share of the amount of wages incurred by the qualified partnership in a particular fiscal period, in respect of a qualified designer or qualified patternmaker, for the purpose of computing the amount that the qualified corporation is deemed to have paid to the Minister under section 1029.8.36.7.1, for its taxation year in which the particular fiscal period ends, the qualified corporation is deemed, if it encloses the prescribed form with the fiscal return it is required to file under section 1000, for its taxation year in which the fiscal period of repayment ends, to have paid to the Minister on the qualified corporation’s balance-due day for that year, on account of its tax payable for that year under this Part, an amount equal to the amount by which the particular amount that the qualified corporation would be deemed, if the assumptions set out in the second paragraph were taken into account, to have paid to the Minister, in respect of the share, under section 1029.8.36.7.1 for its taxation year in which the particular fiscal period ends, exceeds the aggregate of

(a)  the amount that the qualified corporation would be deemed to have paid to the Minister under section 1029.8.36.7.1, for its taxation year in which the particular fiscal period ends, in respect of the share, if the qualified corporation’s share of the income or loss of the partnership for the particular fiscal period was the same as the qualified corporation’s share for the fiscal period of repayment; and

(b)  any amount that the qualified corporation would be deemed to have paid to the Minister under this section for a taxation year preceding the taxation year in which the fiscal period of repayment ends, in respect of an amount paid by the qualified corporation or the person with whom it is not dealing at arm’s length, if the qualified corporation’s share of the income or loss of the qualified partnership for the particular fiscal period was the same as the qualified corporation’s share for the fiscal period of repayment.

The particular amount to which the first paragraph refers is to be computed as if

(a)  any amount of assistance, of a benefit or of an advantage repaid at or before the end of the fiscal period of repayment had reduced, for the particular fiscal period, the amount of any government assistance, non-government assistance, benefit or advantage referred to in subparagraph ii of subparagraph b of the first paragraph of section 1029.8.36.18.1 or 1029.8.36.18.3; and

(b)  the qualified corporation’s share of the income or loss of the qualified partnership for the particular fiscal period had been the same as the qualified corporation’s share for the fiscal period of repayment.

2006, c. 13, s. 146.